Pald supplies for cash $500

Increase in an asset, increase in a linbility.

A debit may signify a(n):

increase in a liability account.

increase in the stockholders' equity (common stock) account.

The type of account with a normal credit balance Is:

stockholders' equity (dividend).

The recept of cash from customers in payment of their accounts would be recorded by?

a debit to Cash and a credit to Accounts Reccivable.

a debit to Accounts Receivable and a credit to Cash.

a debit to Cash and a credit to Accounts Payable:

a debit to Accounts Payable and a credit to Cash.

A debit may signify a(n):

increase in a liability account

increase in the stockholders'equity(common stock) account.

The type of account with a normal credit balance is:

stockholders' equity (dividend).

The receipt of cash from customers in payment of their accounts would be recorded by:

a debit to Cash and a credit to Accounts Receivable.

a debit to Accounts Receivable and a credit to Cash.

a debit to Cash and a credit to Accounts Payable.

a debit to Accounts Payable and a credit to Cash.

If the supplies account, before adjustment on May 31, indicated a balance of $2,250, and supplies on hand at May 31 totaled $950, the adjusting entry would be:

Debit Supplies Expense, $1,300; Credit Supplies, $1,300.

Debit Supplies, $950; Credit Supplies Expense, $950.

Debit Supplies, $1,300; Credit Supplies Expense, $1,300.

Debit Supplies Expense, $950; Credit Supplies, $950.

If the estimated amount of depreciation on equipment for a period is $2,000, the adjusting entry to record depreciation would be:

Debit Depreciation Expense, $2,000; Credit Accumulated Depreciation, $2,000.

Debit Depreciation Expense, $2,000; Credit Equipment, $2,000.

Debit Equipment, $2,000; Credit Depreciation Expense, $2,000.

Debit Accumulated Depreciation, $2,000; Credit Depreciation Expense, $2,000.

Paid rent for period of July 4 to end of month, $1,750. Journalize the entry:

Dr Rent expense: $1,750, Cr Cash: $1,750

Dr Cash: $1,750, Cr Rent expense: $1,750

Dr Prepaid rent: $1,750, Cr Cash: $1,750

Dr Cash: $1,750, Cr Prepaid rent: $1,750

Purchased a truck for $15,000, paying $1,000 cash and giving a note payable for the remainder. Journalize the entry:

Dr Truck: $15,000, Cr Cash: $1,000, Cr Notes payable: $14,000

Dr Truck: $15,000, Dr Cash: $1,000, Cr Account payable: $16,000

Dr Truck: $15,000, Cr Cash: $1,000, Cr Account payable: $14,000

Purchased equipment on account, $7,000. Journalize the entry:

Dr Equipment: $7,000, Cr Account payable: $7,000

Dr Equipment: $7,000, Cr Cash: $7,000

Dr Account payable: $7,000, Cr Cash: $7,000

Dr Equipment: $7,000, Cr Notes payable: $7,000

Purchased supplies for cash $1,200. Journalize the entry:

Dr Supplies: $1,200, Cr Cash: $1,200

Dr Supplies expense: $1,200, Cr Cash: $1,200

Dr Cash: $1,200, Cr Supplies: $1,200

Dr Supplies: $1,200, Cr Account payable: $1,200

Paid annual premiums on property and casualty insurance $2,700. Journalize the entry:

Dr Prepaid insurance: $2,700, Cr Cash: $2,700

Dr Insurance expense: $2,700, Cr Cash: $2,700

Dr Account payable: $2,700, Cr Cash: $2,700

Dr Cash: $2,700, Cr Prepaid insurance: $2,700

Fees earned and billed to customers for the month, $37,200. Journalize the entry:

Dr Account receivable: $37,200, Cr Fees earned: $37,200

Dr Cash: $37,200, Cr Account receivable: $37,200

Dr Cash: $37,200, Cr Fees earned: $37,200

Dr Fees earned: $37,200, Cr Cash: $37,200

July 26, received an Invoice for truck expenses, to be paid in Augusi, $800. Journalize the entry

Dr Truck expenses: $800, Cr Account payable: $800

Dr Truck expenses: $800, Cr Cash: $800

Dr Cash: $800, Cr Truck expenses

Recelved cash from customers on account, $3,600. Journalize the entry:

Dr Cash: $3,600, Cr Account receivable: $3,600

Dr Cash: $3,600, Cr Account payable: $3,600

Dr Cash: $3,600, Cr Fees carned: $3,600

Dr Account receivable: $3,600, Cr Fees earned: $3,600

Paid wages of employees, $2,400, Journalize the entry:

Dr Wages expense: $2,400, Cr Cash: $2,400

Dr Wages: $2,400, Cr Cash: $2,400

Dr Wages: $2,400, Cr Wages payable: $2,400

Dr Wages expense: $2,400, Cr Wages payable: $2,400

Pald dividend, $2,000. Journalize the entry:

Dr Dividend, $2,000, Cr Cash. $2,000

Dr Dividend, $2,000, Cr Dividend payable, $2,000

Dr Cash: $2,000, Cr Dividend $2,000

Fees accrued but unbilled at July 31 are $9,560. Journalize the adjusting entry:

Dr Account receivable: $9.560, Cr Fees earned: $9,560

Dr Cash: $9,560, Cr Fees earned: $9,560

Cr Cash: $9,560, Cr Account receivable: $9,560

Dr Fees earned: $9,560, Cr Account receivable: $9,560

Wages accrued but not paid at July 31 are $1,200. Journalize the adjusting entry:

Dr Wages expense: $1,200, Cr Wages payable: $1,200

Dr Wages expense: $1,200, Cr Cash: $1,200

Dr Wages expense: $1,200, Cr Accounf payable: $1,200

Dr Wages payable: $1,200, Cr Wages expense: S1.200

The unearned rent account balance at July 31 Is $9,375, representing the receipt of an advance payment on July 1 of three months? rent from tenants, Journalize the adjusting entry in July 31:

Dr Unearned rent: $3,125, Cr Rent revenue: $3,125

Dr Rent revenue: $3,125, Cr Uneamed rent: $3,125

Dr Account receivable: $9,375, Cr Rent revenue: $9,375

Dr Account receivable: $9,375, Cr Fees cared: $9,375

Issued common stock in exchange for $30,000. Journalize the entry

Dr Cash: $30,000, Cr Common stock: $30,000

Dr Common stock: $30,000, Cr Cash: $30,000

Dr Account receivable: $30,000, Cr Common stock: $30,000

Dr Common stock: $30,000, Cr Account receivable: $30,000

Paid installment due on note payable, $1,875. Journalize the entry

Dr Notes payable: $1,875, Cr Cash: $1,875

Dr Account payable: $1,875, Cr Cash: $1.875

Dr Cash: $1,875, Cr Notes payable: $1,875

Dr Cash: $1,875, Cr Account payable: $1.875

Recorded fees earned in January on plans delivered, payment to be received in February. $31,400. Journalize the entry

Dr Account receivable: $31,400, Cr fees cared: $31,400

Dr Cash: $31,400, Cr fees earned: $31,400

Dr fees earned: $31,400, Cr Account receivable: $31,400

Dr Account payable: $31,400, Cr fees cared, $31,400

Paid telephone bill for the month, $550, Journalize the entry

Dr Utilities Expense: $550, Cr Cash: $550

Dr. Telephone bill: S550, Cr Cash: $550

Dr Cash: 5550, Cr: Utilities Expense: $550

Dr Telephone expense: $550, Cr Cash: $550

Received cash from customers on account, $8,600. Journalize the entry

Dr Cash: $8,600, Cr Account receivable: $8,600

Dr Account payable: $8,600, Cr Cash: $8,600

Dr Account receivable: $8,600, Cr Cash: $8,600

Dr Cash: $8,600. Cr Fees earned: $8,600

Kiểm tra giữa kì

Authored by Vinh Nguyễn

English

Professional Development

Used 10+ times

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70 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Refained Earnings is:

Liability

Asset

Stockholders' Equity

Revenue

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounts Payable and Accounts Receivable are

Liabilities

Assets

Stockholders' Equity

difierent types of accounting elements

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paid rent for the month, $4,200.

Increase in an asset, increase in a liability.

Increase in an asset, increase in owner's equity.

Decrease in an asset, decrease in a liability.

Decrease in an asset, decrease in owner's equity.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Determined that the cost of supplies on hand was $900; therefore, $1,600 of supplies had been used during the month.

Increase in an asset, decrease in another asset.

Increase in an asset, increase in owner's equity.

Decrease in an asset, decrease in a liability.

Decrease in an asset, decrease in owner's equity.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paid creditors on account $9,280.

Increase in an asset, decrease in another asset.

Increase in an asset, increase in a liability.

Increase in an asset, increase in owner's equity.

Decrease in an asset, decrease in a liability.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paid utilities expenses $500

Increase in an asset, decrease in another asset.

Increase in an asset, increase in a liability.

Increase in an asset, increase in owner's equity.

Decrease in an asset, decrease in owner's equity.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Paid 3 months rent $500

Increase in an asset, decrease in another asset.

Increase in an asset, increase in a liability.

Increase in an asset, increase in owner's equity.

Decrease in an asset, decrease in owner's equity.

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Kiểm tra giữa kì

Refained Earnings is:

Accounts Payable and Accounts Receivable are

Paid rent for the month, $4,200.

Determined that the cost of supplies on hand was $900; therefore, $1,600 of supplies had been used during the month.

Paid creditors on account $9,280.

Paid utilities expenses $500

Paid 3 months rent $500

Paid annual insurance premium $500

Pald supplies for cash $500

A debit may signify a(n):

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